1.1.................... moves to amend H. F. No. 718 as follows:
1.2Page 14, after line 26, insert:
1.3 "Sec. 11. Minnesota Statutes 2006, section 291.03, subdivision 1, is amended to read:
1.4 Subdivision 1.
Tax amount. The tax imposed shall be an amount equal to the
1.5proportion of the maximum credit for state death taxes computed under section 2011 of
1.6the Internal Revenue Code,
as amended through December 31, 2000, but
without regard
1.7to the reduction in or the repeal of the credit using Minnesota adjusted taxable estate
1.8instead of federal adjusted taxable estate, as the Minnesota gross estate bears to the value
1.9of the federal gross estate. The tax determined under this paragraph shall not be greater
1.10than the amount computed by applying the rates and brackets under section 2001(c) of
1.11the Internal Revenue Code to the Minnesota adjusted gross estate and subtracting the
1.12federal credit allowed under section 2010 of the Internal Revenue Code of 1986, as
1.13amended through December 31, 2000. For the purposes of this section, expenses which
1.14are deducted for federal income tax purposes under section 642(g) of the Internal Revenue
1.15Code as amended through December 31, 2002, are not allowable in computing the tax
1.16under this chapter.
1.17EFFECTIVE DATE.This section is effective for estates of decedents dying after
1.18December 31, 2006."
1.19Amend the title accordingly